<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/altcoin-investments-surge-and-plunge-the-case-of-mantle-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoin Investments Surge and Plunge: The Case of Mantle Network</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/what-is-launchpad/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency</a></strong> enthusiasts often find excitement in companies investing in <a href="https://coin-turk.com/fiyat-tahminleri-ile-devlesen-isimden-sert-xrp-tahmini" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a>. These investments are particularly valuable as they signify growth and importance within the crypto world. However, there’s also a downside to this situation, as altcoin projects can experience sharp declines. Such an event occurred today with the altcoin Mantle Network (MNT). Let’s look into the details.</p>
<h2 style="text-align: justify" id="mantle-network-s-price-hits-record-high-before-falling">Mantle Network’s Price Hits Record High Before Falling</h2>
<p style="text-align: justify">As I reported this morning, a new storm was brewing in the crypto market, highlighting the impressive performance of the altcoin Mantle (MNT), a Layer 2 (L2) <a href="https://coin-turk.com/unlu-yatirimci-tim-draperdan-bitcoin-ve-blockchain-aciklamasi" data-wpel-link="internal" rel="noopener noreferrer nofollow">Blockchain</a> solution. It had climbed to the 33rd spot among the top 100 cryptocurrencies in the last 24 hours. <strong>MNT</strong> had reached a new all-time high of $1.49, marking a 40% increase.</p>
<p style="text-align: justify">Now, a company has apparently taken advantage of this rise. According to Lookonchain, which tracks the movements of whales and large corporations, the global crypto investment firm Dragonfly deposited 10.5 million MNT tokens, valued at $12.6 million, into the cryptocurrency exchange Bybit today.</p>
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-334312 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/mnt-coin-turk-com-1-1.png" alt="" width="1914" height="875"></p>
<p style="text-align: justify">The move didn’t stop there. When the cryptocurrency exchange Upbit announced it would list MNT tokens, the company made another move, depositing 21 million MNT tokens, worth $25.2 million, into Bybit once again. What do you think was the outcome of this situation? Let’s take a look.</p>
<h2 style="text-align: justify" id="mnt-price-suffers-a-20-drop">MNT Price Suffers a 20% Drop</h2>
<p style="text-align: justify">It’s clear that the move was aimed at selling off the tokens. The global crypto venture fund <strong>Dragonfly</strong> sent these tokens to the exchange to sell them. As a result, as seen in the graph above, the price quickly fell.</p>
<p style="text-align: justify">Following Dragonfly’s sale, the cryptocurrency MNT fell by 20%, dropping the price below $1.2. This inevitably could mean losses for individual investors.</p>
<p style="text-align: justify">My advice to investors at this point is to closely monitor such altcoin purchases and take notes. Because when these types of companies buy altcoins, they definitely sell them as soon as the prices rise. Therefore, to avoid losses, it’s crucial to closely follow developments and accordingly evaluate price increases.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/altcoin-investments-surge-and-plunge-the-case-of-mantle-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoin Investments Surge and Plunge: The Case of Mantle Network</a></h5>

Altcoin Investments Surge and Plunge: The Case of Mantle Network

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